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Dec 6, 2012
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would cut the deficit by $200 billion over ten years. supporters say the change wouldn't cut benefits. >> if we're making the change to reflect what is the real cost of living, as opposed to a different one, then you are not reducing them; you're just truing up what you should be getting. not something that-- i hate to use the term-- that might be inflated beyond what it should have been. >> reporter: this so-called technical fix will shave a quarter of a percentage point off social security's annual cost of living increase, and that difference adds up over time. some worry that will hurt the very old. >> it cuts real benefits. if somebody is getting fewer dollars in their check, that's real to them. and for people who are sliding progressively farther behind prevailing living standards, which is true of those out of the labor force for a very long time, it's about as real as it gets. >> reporter: but the change to a chained c.p.i. is easy to do, and that means it could be packaged into a deficit agreement quickly if there is bipartisan
would cut the deficit by $200 billion over ten years. supporters say the change wouldn't cut benefits. >> if we're making the change to reflect what is the real cost of living, as opposed to a different one, then you are not reducing them; you're just truing up what you should be getting. not something that-- i hate to use the term-- that might be inflated beyond what it should have been. >> reporter: this so-called technical fix will shave a quarter of a percentage point off social...
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Dec 5, 2012
12/12
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ways to reduce the deficit never are. but we must act together. when you look for savings, it is fair to local to the 1%. >> with multiple forecasts being downgraded, it has now become an issue about competence. they argue not only has the chancellor failed, but failed on his own terms. >> it has been completely derailed. the one test they set for themselves, balance the books and get the debt falling by 2015, that is now in tatters. >> after all, the facts and figures of the chancellor's statement -- after all of the facts and figures of the chancellor's statement, we are left with a feeling of malaise. >> you are watching bbc world news america. still to come, aero controversy at the hospital after the duchess of game birds -- the after information on the duchess of cambridge is released to two is jockeys. >> in bangkok, thousands of thais turned out to catch a glimpse of the mark on his 85th birthday in a rare public appearance prepare aero controvy at the hospital after the duchess of game birds -- the after information on the duchess of cambr
ways to reduce the deficit never are. but we must act together. when you look for savings, it is fair to local to the 1%. >> with multiple forecasts being downgraded, it has now become an issue about competence. they argue not only has the chancellor failed, but failed on his own terms. >> it has been completely derailed. the one test they set for themselves, balance the books and get the debt falling by 2015, that is now in tatters. >> after all, the facts and figures of the...
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Dec 7, 2012
12/12
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. i do think to focus and our biggest driver is going forward,social security, medicare, to on them. will be more important in the number on discretionary spending or tax cuts themselves. do you think the president's plan adequately addresses the sustainability of medicare and social security? further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. i do think to focus and our biggest driver is going forward,social security, medicare, to on them. will be more important in the number on discretionary spending or tax cuts themselves. do you think the president's plan adequately addresses the sustainability of medicare and social security? further. i...
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Dec 8, 2012
12/12
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deficit-reduction. what does reduce the deficit is jobs, job creation. what we need are the revenues, and that is what you have to ask the question about. why are we not here to pass additional tax cuts, which increases the high-end contribution to the budget talks? why are we not here to pass middle-income tax cuts? what are we not even here to debate the middle-income tax cut? can it be because the republicans are holding this as they have all along hostage to tax cuts for the wealthy? as long as they will not touch one hair on the head or get one red cent of their rich, to reduce the deficit, to create jobs, to grow the economy, to improve the lives of the american people -- >> the speaker was asking about middle ground. do you necessarily rule it out? is it your understanding that that is something he would accept? >> what we want to do is protect the middle class. it is not above the rate. it is about the money. the objection to extending it is about being punitive to the high end. it is about getting money to reduce the deficit, to grow the economy
deficit-reduction. what does reduce the deficit is jobs, job creation. what we need are the revenues, and that is what you have to ask the question about. why are we not here to pass additional tax cuts, which increases the high-end contribution to the budget talks? why are we not here to pass middle-income tax cuts? what are we not even here to debate the middle-income tax cut? can it be because the republicans are holding this as they have all along hostage to tax cuts for the wealthy? as...
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Dec 9, 2012
12/12
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chairman we have agreed the deficit is bad. but in my experience with congress is anything to go by, there will have to be a crisis to fix it. my question is, a you prepared to bring about the necessary crisis the year continued restrictive monetary policy? he could hardly believe his years. to avoid a political suicide, i will just say as a matter of general philosophical approach and feel very strongly it is not our job to artificially provoke a crisis. then they say mr. chairman i never intimated that was part of your thinking and he said iowa's cent absolutely sure about that. then hines says but maybe the inevitable consequence. paul volcker cannot law old ally -- tala lie and then in fact, it confirms the hidden agenda to maintain painfully high interest rates so monetary policy could go up. of final confirmation this after the bell was passed senator phil gramm called paul volcker to say now we have the budget under control kimmie have the easier monetary policy? he said we will see. that is a typical central banker resp
chairman we have agreed the deficit is bad. but in my experience with congress is anything to go by, there will have to be a crisis to fix it. my question is, a you prepared to bring about the necessary crisis the year continued restrictive monetary policy? he could hardly believe his years. to avoid a political suicide, i will just say as a matter of general philosophical approach and feel very strongly it is not our job to artificially provoke a crisis. then they say mr. chairman i never...
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Dec 6, 2012
12/12
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that probably means it will go to the deficit. as you know they are having a hard time right now finding other things to cut in terms of spending. so while there are people who need it, that's going to be another major issue moving forward. how the federal government will spend about $50 billion when right now we are pretty much broke, neil. >> incredible. they know it is a nonstarter. do they not care? >> it is probably going to end up, as you know, you have seen this before, folded into the rest of the negotiations. you are right. there will be p republicans objecting. some said we don't need budget offset. there are republicans saying yes we do. it will probably end up getting rolled into the broader fight over the fiscal cliff. it is unlikely they will get pay fors. >> ed henry, thank you very much. the super hero versus the dancer. we are both trying to save the nation's debt mess. does allen have me beat? ♪ >>> we could be on the verge of breaking a major log jam in the united states senate. you are looking at harry reid a
that probably means it will go to the deficit. as you know they are having a hard time right now finding other things to cut in terms of spending. so while there are people who need it, that's going to be another major issue moving forward. how the federal government will spend about $50 billion when right now we are pretty much broke, neil. >> incredible. they know it is a nonstarter. do they not care? >> it is probably going to end up, as you know, you have seen this before,...
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Dec 6, 2012
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this produces a kind and the deficit without to the deficit afterwards. the previous government has classified the management is off balance. today, it is on the balance sheet in line with the judge. it adds pounds to our debt and reminds us of the price the country it's okay for the failures of the past. [cheers] government has decided with the agreement of the bank of england to transfer excess cash held in the asset purchases will be. this is runcible cash management and is i line with the bank of japan is a reserve. and while some of the burden of this is more transparent than the previous approach. i want to make sure pact on the figures is completely transparent. we canassesses with and without the impact of the decision. mr. speaker, when cato office, the deficit stood at 11.2%, the highest in ur peacetime history. it was forecast to be the largest of any major ecom the world. in theast two years, th decit has fallen. today's figures show that with or without, the deficit is forecast to fall this year as well. cash borrowing is expected to fall too
this produces a kind and the deficit without to the deficit afterwards. the previous government has classified the management is off balance. today, it is on the balance sheet in line with the judge. it adds pounds to our debt and reminds us of the price the country it's okay for the failures of the past. [cheers] government has decided with the agreement of the bank of england to transfer excess cash held in the asset purchases will be. this is runcible cash management and is i line with the...
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. >> $4 trillion of deficit reduction over the next ten years. itncludes $1.6 trillion in higher taxes on households making more than $250,000 a year. there's also $400 billion in cuts to entiementprograms. there's apls also some fresh n ending. $50 billion next year in stimulus spending,all for infrastruct n:oh green john likeou. a right, so we got a little x cut hike here, a little entitlement trim there. basically telling the government it needs a mix of diet and exercise ii want f it wants to reduce itshances of succumbing to heart disease or prostate -- christ, i just turned 50. (lghter) no, i'm sorry. basically this plan is around somewhat what obama said he was going to do about the budget while he was on the campaign trail. so i guess we can put that another way. >> the proposal that came forward yesterday really is a joke. >> i'm not surprised at my colleague, senator mcconnell laughed at that proposal. >> the president's plan does nothing but damn to us becoming gree. >> disappointing. >> disappointed. >> i'meally disappointed. (laughte
. >> $4 trillion of deficit reduction over the next ten years. itncludes $1.6 trillion in higher taxes on households making more than $250,000 a year. there's also $400 billion in cuts to entiementprograms. there's apls also some fresh n ending. $50 billion next year in stimulus spending,all for infrastruct n:oh green john likeou. a right, so we got a little x cut hike here, a little entitlement trim there. basically telling the government it needs a mix of diet and exercise ii want f it...
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Dec 3, 2012
12/12
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we have seen them run the deficit . medicare. when you see the american people paying on average. 115 million a year and getting something 300 mill or 300,000, benefits in their life. we have to do something about the fee for service program and get it a defined benefit and we have to reform and preserve mandatory spending programs. >> one of the things you are best at as a communicator of the republican party. what do you tell people who are worried about republicans or democrats might do in congress that would put their security in jeopardy? >> first and foremost, we are not talking about making change for current seniors or those 10 years from going in. but we have to do something for someone like myself who is 51 or those programs will not be there. we are talking 10-12 years of solvencey between social security and medicare. we have to be adults and leaders and say we have a program and we'll bring viable solutions to future generations. >> we are grateful you joined us this afternoon. thank you, congressman west. >> thank y
we have seen them run the deficit . medicare. when you see the american people paying on average. 115 million a year and getting something 300 mill or 300,000, benefits in their life. we have to do something about the fee for service program and get it a defined benefit and we have to reform and preserve mandatory spending programs. >> one of the things you are best at as a communicator of the republican party. what do you tell people who are worried about republicans or democrats might...
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Dec 9, 2012
12/12
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any major structural changes to these programs. we will not block grant medicaid, and we wi
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are...
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Dec 4, 2012
12/12
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the deficit, nobody wants there to be a deficit, but that's not the pressing need we've got as a nation. growing the economy, frankly, is the only way we have gotten rid of red ink in the past. when americans are better off, they pay more in taxes. the government can pay for the usual things and pay down the debt. president clinton, the surplus, he got that partly from raising revenue. raising taxes. but also he did it in a way that grew the economy and the nation prospered and the debt became no big deal and then the debt was gone and the debt clocks that were supposed to be scary got shut off. that was because of prioritizing economic growth and being willing to raise revenues. look when we started growing again after the recession. it was not long after the stimulus kicked in. the government spent money and the economy grew. that's how it works. that's why it used to be a beltway consensus when the economy needed to e grow, you needed economic stimulus in terms of your fiscal policy. now the discussion about how we need to make sure we contract the economy and cause as much pain as p
the deficit, nobody wants there to be a deficit, but that's not the pressing need we've got as a nation. growing the economy, frankly, is the only way we have gotten rid of red ink in the past. when americans are better off, they pay more in taxes. the government can pay for the usual things and pay down the debt. president clinton, the surplus, he got that partly from raising revenue. raising taxes. but also he did it in a way that grew the economy and the nation prospered and the debt became...
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Dec 4, 2012
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durbin said social security hasn't added a dime to the deficit. in 2012 it added $160 billion of debt. that is more than a dime. there are 2.5 trillion in the trust fund in social security that will take care of it for 20 more years, 25 more years. that means pieces of paper in the trust fund where the treasury says we will pay you. it doesn't have the money. it spent surpluss in the past. that's a promise from the treasury which is pank ru bankrupt. that is infection but they know it. the republicans are bad guys these are good guys. surprising to me the president wokd get the revenues he wants from de deductions and exclusions. it is on rates not for economic reasons but political. he wants to break the backs of republicans. it this is a continuation of his campaign he thinks he wants it and now he wants to drive the steak through it. it is all about politics nothing about economics. >> democratic congressman chris van holland appeared on special report. there are cuts to the president's budget but republicans haven't paid attention to them. >>
durbin said social security hasn't added a dime to the deficit. in 2012 it added $160 billion of debt. that is more than a dime. there are 2.5 trillion in the trust fund in social security that will take care of it for 20 more years, 25 more years. that means pieces of paper in the trust fund where the treasury says we will pay you. it doesn't have the money. it spent surpluss in the past. that's a promise from the treasury which is pank ru bankrupt. that is infection but they know it. the...
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absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity already and we know the ratings agencies are minutes away, we're right to fix the problem in the long run than making a bandaid short-term d
absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and...
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that leaves us with the deficit of one. that is the deficit. sizable it is. this wl be the president's fourth for whh he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that's about 8% of that deficit. so does that suggest we have a tax problem or, perhaps, a spending problem? think about this. taxpayers making more than $250,000 representin the top 2% paid more than 46% of all texas. that would seem like a pretty fair deal to most of us, but the president says it is not fair. we don't know what that number is. how much should it be? and contrary to what the president would have you believe as he campgns untack sites all around the country and against the wealthy, he's doing a lot of that. the bush tax rates are not the root of our problems. in fact, individual tax payments rose, get this, $2,303,000,000,000 or 26%. over the past two
that leaves us with the deficit of one. that is the deficit. sizable it is. this wl be the president's fourth for whh he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that's about 8% of that deficit. so does that suggest we have a tax problem or, perhaps, a spending...
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Dec 9, 2012
12/12
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medicare, medicaid and social security aren't the drivers of this deficit. what these guys should do, coburn is right, this is meaningless, they should even given him 98% or they should do what president clinton propose is like it extend it for three months and let the new congress. let the new congress. the outgoing congress that lost is making -- >> they're the ones that voted for it. >> first of all, what we want to do, we want to raise taxes. we want to raise tax rates. when you say when you want to close loopholes that does not count. that's a generic thing. are you going to close charitable, state and local deductions. what is that you're going to do. the generic statement is it doesn't count. we're very clear about what we want to do. we're not enhancing revenues. we're talking about raising taxes. >> when hensarling was talking, he said that the president hasn't proposed cuts. the stuff that's looking forward, there are major medicare spending cuts, mostly falling on providers not on beneficiaries. there are a lot of detail in there. >> for fes so, i
medicare, medicaid and social security aren't the drivers of this deficit. what these guys should do, coburn is right, this is meaningless, they should even given him 98% or they should do what president clinton propose is like it extend it for three months and let the new congress. let the new congress. the outgoing congress that lost is making -- >> they're the ones that voted for it. >> first of all, what we want to do, we want to raise taxes. we want to raise tax rates. when you...
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Dec 2, 2012
12/12
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we need to do something about the deficit. going over the fiscal cliff is the best thing we're going to get out of washington in terms of serious production to the deficit. we will suffer, but we got ourselves into this. we're not going to get out without some pain. i think we are going to go over the cliff. >> let me quickly say i don't favor going over the cliff, but howe regard is right. if you're worried about the deficit, the easiest way is to go over the cliff. you have increases right away. >> yeah. >> can i ask you, though, how can you guarantee e that all the extra tax hikes and provisions actually go towards paying the national debt and not more spending and more programs? >> you can't guarantee that but you have a conservative republican congress. they are not going to vote for any spending increase. why not take advantage of that and make the initial cuts and let them go into a stalemate for awhile. that's a pretty big amount. my sges that provides the certainty. we go back to the clinton tax rates. and we make sig
we need to do something about the deficit. going over the fiscal cliff is the best thing we're going to get out of washington in terms of serious production to the deficit. we will suffer, but we got ourselves into this. we're not going to get out without some pain. i think we are going to go over the cliff. >> let me quickly say i don't favor going over the cliff, but howe regard is right. if you're worried about the deficit, the easiest way is to go over the cliff. you have increases...
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Dec 7, 2012
12/12
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but reduces the deficit is jobs. -- what reduces the deficit is jobs. why are we not here to pass the middle-income tax cuts, which unleashes -- creases the high- and contribution to the budget talks? why are we not here to pass middle-income tax cuts? debatee we not heare to the middle-income tax cuts? could it be that deep republicans are holding the middle-income tax cuts hostage to tak cuts for the wealthy? as long as they will not touch one red cent from the high end, we will never have the revenue to combine with the savings and spending cuts to reduce the deficits to create jobs, grow the economy, and improve the lives of americans. [indiscernible] we want to protect the middle class. it is not about the rates. it is about the money. it is about being a fugitive to the high end. it is about giving money to reduce the deficit, perot the economy, and unleash the power. it depends on how much money you can get and say, they will pay less. the middle class will pay more. >> 37% would bring in reckless and revenues? >> i do not know that. -- 37% would
but reduces the deficit is jobs. -- what reduces the deficit is jobs. why are we not here to pass the middle-income tax cuts, which unleashes -- creases the high- and contribution to the budget talks? why are we not here to pass middle-income tax cuts? debatee we not heare to the middle-income tax cuts? could it be that deep republicans are holding the middle-income tax cuts hostage to tak cuts for the wealthy? as long as they will not touch one red cent from the high end, we will never have...
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and that social security has nothing to do with the deficit. it is solvent and until 2037. medicare is solvent until 2024. you think where we're at, i know as i listen then the question would the republicans get anything, i don't even want to use the word conceding coming together on behalf of the american people where 62% believe on november 6th when the race was over the vote was really on whether or not should be a fair tax burden on those --. melissa: i'll give that to you. let's go ahead and raise taxes. say we do that. that doesn't get us close to solving the problem. i mean we still have $16.3 trillion in debt. we are still running $4 billion a day beyond what we're making. we this huge problem in this country. if it was a house you would throw uppyour arms in distress say, my god, we can never pay all these bills. that is sort of the point. >> i'm not in distress on that. first of all with the tax rrlief for 98% of the americans, we'll turn a reasoned amount of a trillion upwards back into the treasury. that is the first step. secondarily, a lot of economists will m
and that social security has nothing to do with the deficit. it is solvent and until 2037. medicare is solvent until 2024. you think where we're at, i know as i listen then the question would the republicans get anything, i don't even want to use the word conceding coming together on behalf of the american people where 62% believe on november 6th when the race was over the vote was really on whether or not should be a fair tax burden on those --. melissa: i'll give that to you. let's go ahead...
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Dec 10, 2012
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we run up a large deficit when we have a slump and run up medium-sized deficits in times of prosperity. the u.s. government is spending about $3.6 trillion this year. federal spending has gone up at roughly twice the rate of economic growth. interest payments are temporarily manageable. but interest rates are at historic lows and likely to go up. our current situation is in no way comparable to that of the '40's when the national debt grew to an amount nearly equal to annual gdp. once the war ended, spending went down and the u.s. proceeded to grow at a greater than 4% annual rate for 20 years. that took care of the deficit or the debt with the problem. today, everything points in the other direction. interest rates are likely to go up. demand for further spending will increase for reasons i will get to a minute. state and local governments rely on federal transfers to balance their books. the state of california spends money out of the general fund and get money in terms of federal transfers from various programs. they depend on that money. i won't get in to the whole question of the
we run up a large deficit when we have a slump and run up medium-sized deficits in times of prosperity. the u.s. government is spending about $3.6 trillion this year. federal spending has gone up at roughly twice the rate of economic growth. interest payments are temporarily manageable. but interest rates are at historic lows and likely to go up. our current situation is in no way comparable to that of the '40's when the national debt grew to an amount nearly equal to annual gdp. once the war...
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Dec 5, 2012
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we reached those massive deficits, the largest deficits in american history. and we begin to bring those back down. enter 2007. 2007, 2008 we had a republican president in the white house, we had a democratic speaker here in the u.s. house, spending began to tick back up. and as we entered the obama years, mr. speaker, here is the largest deficit in american history recorded during the bush administration, this is the annual deficit recorded in the obama administration. not twice as large than the largest deficit in american history. not three times as large as the largest deficit in american history. but almost four times larger than the previous largest annual deficit in american history was the first year deficit recorded in the obama administration. we tip, that was the first time ever we run trillion dollar deficits, we continue to run trillion dollar deficits throughout that time. tax policy hasn't changed during that time. tax policy is exactly the same. you hear in the newspaper all the time, mr. speaker, the bush tax cuts. i don't know that that has m
we reached those massive deficits, the largest deficits in american history. and we begin to bring those back down. enter 2007. 2007, 2008 we had a republican president in the white house, we had a democratic speaker here in the u.s. house, spending began to tick back up. and as we entered the obama years, mr. speaker, here is the largest deficit in american history recorded during the bush administration, this is the annual deficit recorded in the obama administration. not twice as large than...
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Dec 9, 2012
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is deficit reduction a serious issue? it is. i'm in the middle of that debate right now. but you know what is a more serious issue according to the american people? the need to create millions and millions of jobs. now how often are you turning on tv and saying, "hey, we're in the middle of a terrible recession. it is, we have 15% real unemployment or underemployment in america. we've got to create millions of jobs." that's what working people are saying, but the big money interests are saying, "oh, we've got to cut social security. we've got to cut medicare. we've got to cut medicaid." there is no other option. so i give you that just as an example of how corporate media throws out one set of ideas, where the american people are thinking that jobs are probably more important. >> it has probably not escaped your attention that the mantra "fiscal cliff, fiscal cliff, fiscal cliff" is played out every night on the evening news and the corporate news. what does that say to you? that you'd get "fiscal cliff, fiscal cliff," but not "job crisis, job crisis, job crisis"? >> it t
is deficit reduction a serious issue? it is. i'm in the middle of that debate right now. but you know what is a more serious issue according to the american people? the need to create millions and millions of jobs. now how often are you turning on tv and saying, "hey, we're in the middle of a terrible recession. it is, we have 15% real unemployment or underemployment in america. we've got to create millions of jobs." that's what working people are saying, but the big money interests...
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Dec 6, 2012
12/12
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MSNBCW
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bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after reagan appeared in that one debate against carter and people said, hey, he isn't so bad. i have a choice. >> one of the other players, besides the two candidates was bill clinton, the former president, don't think anybody made a better case of making the case for obama than bill clinton. at the convention a critical moment when he explained the arithmetic of what obama inherited. >> in tampa the republican argument against the president's re-election was pretty simple, pretty snappy. it went something like this. we left him a total mess. he hadn't cleaned it up fast
bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after...
86
86
Dec 10, 2012
12/12
by
CSPAN2
tv
eye 86
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then white house economic adviser gene sperling and republican senator rob portman on deficit reduction and avoiding the so-called fiscal cliff. after that we're live with a discussion on the ha tee know vote -- latino vote in the 2012 presidential election and the prospects for changes to immigration policy. and later, the senate's back at 2 p.m. eastern for general speeches. later in the day members resume debate on a bill to temporarily extend the transaction account guarantee or t.a.d. program that provides limited insurance coverage for noninterest-bearing transaction accounts. a procedural vote on the measure is expected at 5:30 eastern. >> host: well, on "the communicators" we're doing a series looking at the future of tv, and this week we're pleased to have joining us the president and ceo of the national cable and telecommunications association, michael powell. mr. powell, thank you for being on "the communicators" again, we appreciate it. >> guest: my pleasure. >> host: if you would, put on your future glasses. >> guest: all right. [laughter] they're on. >> host: look ahead fi
then white house economic adviser gene sperling and republican senator rob portman on deficit reduction and avoiding the so-called fiscal cliff. after that we're live with a discussion on the ha tee know vote -- latino vote in the 2012 presidential election and the prospects for changes to immigration policy. and later, the senate's back at 2 p.m. eastern for general speeches. later in the day members resume debate on a bill to temporarily extend the transaction account guarantee or t.a.d....
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Dec 4, 2012
12/12
by
FOXNEWSW
tv
eye 254
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bill clinton increased taxes from 35 to 39%, started with a $300 billion deficit. ended with a trillion dollar surplus. all of you and i think you on television predictedicted thered be a recession. 23 million jobs later, there was no recession. >> lanny, if what you say is true, that the clinton tax cuts did it, why doesn't barack obama say let's have back all of the clinton tax hikes? let's have back all of the clinton tax increases object on everybody and we'll have a boom because he knows in his heart what he knew in 2010. you raise taxes on everybody, and a weak economy like we've got and you will send it into the dumpster. that's what he's threatening to do. >> that's a fair point. that's the reason it's a weak economy. when bill clinton raised taes and ended up with a surplus, conservatives like yourself loved the fact we had a surplus underather than under the last o administrations. we now have a $16 trillion national debt. >> one question, lanny. under bill clinton, they cut defense spending from reagan 6% of gdp to 3%. cut it in half as a percentage of t
bill clinton increased taxes from 35 to 39%, started with a $300 billion deficit. ended with a trillion dollar surplus. all of you and i think you on television predictedicted thered be a recession. 23 million jobs later, there was no recession. >> lanny, if what you say is true, that the clinton tax cuts did it, why doesn't barack obama say let's have back all of the clinton tax hikes? let's have back all of the clinton tax increases object on everybody and we'll have a boom because he...
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194
Dec 10, 2012
12/12
by
KQED
tv
eye 194
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solman explores the tax deductions that could be on the chopping block in the quest to bring down the deficit. >> we estimate $1.1 trillion a year in revenue the government gives up because of all the tax breaks. that's enough to solve the revenue problem but it's not going to happen. >> ifill: ray suarez has a newsmaker interview with secretary of homeland security janet napolitano. >> you can discuss border security and immigration reform simultaneously now. we don't have to this kind of first this and then that. at this point they actually go together. >> woodruff: special correspondent rick karr reports on the polluted waters that spilled into new york homes and businesses in superstorm sandy, raising health concerns. >> everybody sort of got sick at the same time. all of us sort of attributed it to, well, we're all stressed out. it's very cold. but that said, there is a lot of nasty stuff hanging about. >> ifill: and hari sreenivasan has an update on the dangerous working conditions in bangladesh, where more than 100 workers have died over the past month. that's all ahead on tonight's ne
solman explores the tax deductions that could be on the chopping block in the quest to bring down the deficit. >> we estimate $1.1 trillion a year in revenue the government gives up because of all the tax breaks. that's enough to solve the revenue problem but it's not going to happen. >> ifill: ray suarez has a newsmaker interview with secretary of homeland security janet napolitano. >> you can discuss border security and immigration reform simultaneously now. we don't have to...
193
193
Dec 3, 2012
12/12
by
MSNBCW
tv
eye 193
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so i think what the white house is signaling is that at a minimum, any deficit package has to include this immediate february and march debt ceiling that we're going to hit. >> is jack lew the current chief of staff and former budget director the top candidate to be treasury? what is your best guess? >> he appears to be the frontrunner from everything you see and read and hear and he is a -- i've known him a long time. he's an accomplished guy. he knows these issues perfectly. he has worked in the financial community and has a sense of that and vice versa. and so i think he would be a it terrific choice. >> we should say there are a couple other people who have been rumored to being vetted. roger altman, former treasury official, larry fink, be erskine bowles. this what is alan simpson, erskine bowles' partner in the deficit commission, had to say about that possibility last week on the show. >> he said he would be very pleased to do that. he shared that with me personally, as long as they move the treasury department to north carolina, to charlotte. i don't think -- >> he's worked so
so i think what the white house is signaling is that at a minimum, any deficit package has to include this immediate february and march debt ceiling that we're going to hit. >> is jack lew the current chief of staff and former budget director the top candidate to be treasury? what is your best guess? >> he appears to be the frontrunner from everything you see and read and hear and he is a -- i've known him a long time. he's an accomplished guy. he knows these issues perfectly. he...
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245
Dec 5, 2012
12/12
by
MSNBCW
tv
eye 245
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they don't care about deficits. they care about flattening the tax code so lower income people pay more. >> that's the dirty little secret. thank you. i wish we had more time. we don't. >>> next, sheldon walking the corridors of congress? what? i wonder if $150 million buys you a key to the speaker's office. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations. best of all, this plan has the lowest part d premium in the united states -- only $15 a month. open enrollment ends december 7th. so call today or visit your local wa
they don't care about deficits. they care about flattening the tax code so lower income people pay more. >> that's the dirty little secret. thank you. i wish we had more time. we don't. >>> next, sheldon walking the corridors of congress? what? i wonder if $150 million buys you a key to the speaker's office. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin...
145
145
Dec 3, 2012
12/12
by
CSPAN
tv
eye 145
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quote 1
the focus of this effort to reduce deficits now is on getting them, in the federal budget deficit to the range of 3% or so. that is what i mean when i say policymakers are not trying to get rid of the budget deficits. given the economic weakness, a little bit of deficit spending is probably not a terrible thing, at least in the eyes of some budget economists. i think there would be comfort in washington around 3% of gdp. getting there is a big challenge. there are problems with medicare and social security. they are facing big deficit situations. host: what motivates the creation of deductions? what about the other incentives? mortgage deduction it to encourage people to buy a home. guest: some of the deductions have been around forever, since the invention of the income tax. there has always been a deduction for interest that you paid. the government didn't think it could distinguish between mortgage interest and other kinds of interest. less interest is deductible now. some of the things are left over from the early days of the tax code. there is no magic about allowing people to d
the focus of this effort to reduce deficits now is on getting them, in the federal budget deficit to the range of 3% or so. that is what i mean when i say policymakers are not trying to get rid of the budget deficits. given the economic weakness, a little bit of deficit spending is probably not a terrible thing, at least in the eyes of some budget economists. i think there would be comfort in washington around 3% of gdp. getting there is a big challenge. there are problems with medicare and...